The Denny and Candy Elwell Foundation
The Denny and Candy Elwell Foundation is a private family foundation established in 1987 in Iowa and granted tax-exempt status in July 1988. Based in Ankeny, Iowa, the foundation operates as a 501(c)(3) organization dedicated to providing grants to pre-selected organizations.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$292K
+63.9% YoY
Grant Count
44
+10.0% YoY
Avg Grant Size
$7K
+49.0% YoY
Mission & Focus Areas
The foundation's primary purpose is to provide grants to pre-selected organizations, with a particular emphasis on higher education. Key areas of interest include:
- Education (32% of recent giving)
- Social & Human Services (21% of recent giving)
- Religion (11% of recent giving)
- Christian agencies and churches
- Community improvement
Grantmaking
Grant Range
s:** Typical awards range from $250 to $62,000, with a median grant amount of $2,500.
Review Cycle
.
How to Apply
** Applicants must contact the foundation directly for the application process. There are no stated deadlines.
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Geographic Focus
Where this funder awards grants
The foundation's giving is concentrated primarily in Iowa, with approximately 72% of grants staying within the state. Additional significant funding reaches Illinois, North Carolina, Arizona, and Minnesota.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent Data (2024):
- Total Assets: $3,540,798
- Total Revenue: $1,117,292
- Total Giving: $291,700
- Total Expenses: $338,250
- Net Assets: $3,532,613
Previous Year Data (2023):
- Total Assets: $2,761,756
- Total Revenue: $986,037
- Total Giving: $178,000
- Total Expenses: $223,937
Revenue Sources (2024):
- Contributions Received: $936,718
- Investment income and dividends
- Net rental income
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
139 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Dennis L. Elwell – President & Director
- Candy Elwell – Director
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DENNIS L ELWELL | PRES, TREAS & DIRECTOR | 0.25 | — |
| CANDY ELWELL | VP, SEC & DIRECTOR | 0.25 | — |
| BRIANNA ELWELL KINSLEY | DIRECTOR | 0.25 | — |
| CHRISTIAN M MURRAY | DIRECTOR | 0.25 | — |
Recent News & Activity
Recent developments and announcements
In 2021, the Denny and Candy Elwell Foundation made a $2 million donation to the Iowa State Fair, resulting in the creation of the Elwell Family Park at the fairgrounds.
Iowa State Fair announces $2 million donation, Elwell Family ParkRelated Funders
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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